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Inefficient restaurant inventorymanagement practices, improper storage, gaps in inventory logs, theft, and waste can cause even the most successful kitchens to struggle or fail. Below are the top seven inventorymanagement mistakes restaurants are making, and how to correct them.
Scaling an artisan food business is no easy feat. Many small food businesses reach a critical point where they must decide whether to remain small and exclusive or expand into wholesale, manufacturing, and broader distribution. Tying up all our cash into aging inventory was not going to work for us.
Both situations could have been prevented with proper restaurant inventorymanagement, which gives restaurant operators better oversight over what's in stock and how it is used. There are plenty of good reasons to take inventory on a regular basis: Your restaurant can avoid running out of a key ingredient mid-service.
One study found that internal employee theft is responsible for 75 percent of inventory shortages and about 4 percent of restaurant sales. There are all kinds of different types of restaurant theft, ranging from food and inventory, theft at the register and checkout counter, external grease theft, time theft and employee product theft.
Rapid inclination of restaurateurs to adopt POS software for better management of operations will complement the restaurant POS terminals market by 2027. Restaurant point-of-sale (POS) terminals are steadily replacing the now obsolete cash registers used in restaurants. Booming Fast-Food Restaurant Space.
By the time you manageinventory, staffing, customer demand and narrow profit margins, the last thing you want to think about is the IRS. Restaurants, like other cash-intensive businesses, are a frequently targeted for audits by the IRS. Operating a restaurant is not easy. This allows the auditor to verify the expenses.
Introduction In the fast-paced world of restaurants, keeping a close eye on your inventory is as vital as the secret sauce in your signature dish. Proper inventory tracking helps reduce waste, control costs, and boost profits. What Is Restaurant InventoryManagement? Key Components of Restaurant InventoryManagement 1.
Is your restaurant up to speed with the latest best practices for back of house (BOH) management? Everything from decreasing food waste to exploring how automation can increase revenue for small business restaurants is related to BOH procedures. Here are some back of office trends to watch for in 2023.
AI-based robots cook your food and deliver meals on time without missing a beat. Local health lockdowns and limitations caused havoc for foodsupply chains, staffing, customer demand, and remote ordering. Many restaurants were ill-prepared to compete with food delivery services like GrubHub and DoorDash.
While commodity shortages, transportation logjams and other disruptions have eased, restaurants and other food service providers continue to apply lessons learned from recent periods of instability to make logistics and resupply processes more nimble and resilient. Regionalized supply chains. Production and warehousing investments.
Unprecedented labor and supply chain pressure will drive most of the restaurant trends that will define 2022, industry analysts say. This instability will push operators to trim costs by shortening menus and investing in labor-saving technology to free up cash for wage increases. Health-Conscious Food Will Dominate Menus.
Modern Restaurant Management (MRM) magazine asked restaurant industry experts for their views on what trends and challenges owners and operators can expect to see in 2024. This capability can prove invaluable for refining pricing strategies, optimising ingredient and waste management, and planning forthcoming shifts, among other benefits.
The next youre racing to keep inventory stocked while customers wait for tables. Their stories inspire these 10 proven restaurant management tips and tricks for success. Its practical wisdom drawn from years of supporting restaurant managers, crafted to stand the test of time. Staff Management 1. Operational Efficiency 3.
By tracking metrics like customer retention and employee turnover rate, contribution margin, and menu item profitability, restaurant managers can identify each area’s strengths and what areas need improvement. This number is essential because it helps you determine the price of your food and beverages.
But the challenges don’t stop there—once open you have to focus on improving processes, managing labor schedules, and controlling restaurant costs. Not only do you have to manage many costs including, labor, equipment, and food—but you have to do it while dealing with inevitable price increases. Let’s get started.
Restaurants will continue to grapple with labor shortages and supply chain disruptions throughout 2022. These challenges pose the potential for inventory constraints, menu price increases, delays in service and more, impacting not only the hours restaurants can stay open but also the capacity at which they can operate.
Modern Restaurant Management (MRM) magazine asked restaurant industry insiders for their views on trends. With more options to work outside of the hospitality industry, operators must offer employees more scheduling flexibility, facilitate transparent communication between management and team members, and avoid overworking staff.
Components of a restaurant’s financial report The food and beverage sales report, prime costs report, inventory report, profit and loss (P&L) statement, and cash flow statement are all critical components of a restaurant's financial management.
Modern Restaurant Management (MRM) magazine asked experts for their thoughts on trends and challenges that will affect the restaurant industry in 2023. The modern Kitchen Display System (KDS) will be more interactive to increase operational efficiencies and improve quality of food for the chefs and their teams.
Running a restaurant is not just about serving great food; it’s also about managing finances. With 50% of restaurant owners reporting inventory costs as the top concern last year, you must leverage reporting tools to see how much profit your restaurant is making and where your money is going.
Download all the data from your restaurant POS or back-office management platform to get a sense of how your restaurant is operating today. Pro tip: Look at implementing an inventory tracking system like Xtra Chef —it might be a new cost, but it will pay for itself in better food costing.
Modern Restaurant Management (MRM) magazine asked restaurant industry movers and shakers: "What do you feel is going to cause disruption in the restaurant industry over the next decade?” Over the next decade, a generation passionate about health and wellness will demand restaurants be transparent about food from farm to table.
This edition of Modern Restaurant Management (MRM) magazine's Research Roundup features news of dramatic Valentine's Day shift, best food scenes, and the evolution of c-store foodservice. As they grapple with rising costs across their supply chain, 71 percent of restaurants plan to increase prices this year.
These reports help you understand sales trends, manageinventory, optimize staffing, and improve customer satisfaction. Inventory Reports : Monitor stock levels, usage patterns, and waste to control costs and prevent overstocking or shortages. Want to improve your restaurants performance?
The cost of goods sold (COGS) is a restaurant metric that shows you the cost of all ingredients used to prepare a menu item, including the food, beverage costs, and other direct expenses. COGS is based on your inventory, meaning it includes the value of what you start with, what you purchase, and what’s left at the end of the period.
Lille Allen Brands like Fly By Jing and Bachan’s are reaching a whole new audience from the shelves of the ultimate big-box store The last decade or so has been a golden era for cool food products sold directly to consumers online. It was just way too much for one person to deal with.”
Running a successful restaurant in 2025 means more than just great food—it requires smart financial decisions. This guide breaks down 28 proven strategies that help cut unnecessary expenses, streamline operations, and boost profitability—whether you manage a small café or a multi-location chain. Food cost control is crucial.
DELIVERY: Food deliveries have soared in the past couple of months. Decreasing on-premise sales, social distancing and the new work-from-home lifestyle have all contributed to consumers opting to have their food delivered than dining in. This is now the new norm, and we know that some of these changes are here to stay.
And social media is no slouch, either: actively follow and engage with restaurants on social media, 74% say they are more likely to visit or order food from those establishments. Recommended Reading: Restaurant Task Management: How to Communicate Tasks to Staff 4. ) for some of their favorites. Then, put it to a vote!
No matter the size of your restaurant, one truth remains: cash flow is king. Restaurant cash flow management is the lifeblood of your business. Yet, while most small business owners know this truth, many still struggle with basic cash flow definitions, fundamentals, and management strategies that actually maximize benefits.
People who don't work in the restaurant industry think that all there is to being a server is taking orders, bringing out food, and sorting out the bill. Restocking server side work Running out of supplies can turn a calm shift into one reminiscent of a chaotic round of Diner Dash.
The right POS setup can make it easier to take orders, manage staff, track sales, and keep customers happy. Instead, the system offers customers a cash discount, helping you protect your profit margins and reduce operating costswithout compromising on service. Key Features to Look For : Cloud-based systems for remote management.
Brands, Mount Franklin Foods, US Foods, Melt Shop, FoodMaven, Nathan's Famous, Island's Fine Burgers & Drinks, Checkers & Rally’s, Lineage Logistics and Minnow. This emergency action will not disrupt the production or supply of BACARDÍ rum. National Restaurant Association Show Canceled.
Sample Bookkeeping for Restaurants and Bars: In the hospitality industry without precise record-keeping, even the most successful establishments can find themselves adrift, struggling with cash flow, compliance, and ultimately, profitability. Bookkeeping is the often-unsung hero, forming the bedrock of smart financial management.
During a “normal” year, restaurant owners and operators face issues such as cash flow and capital, inventorymanagement, hiring and training and providing excellent customer service. As far as restaurant challenges go, inventory mistakes can be some of the costliest.
This edition of Modern Restaurant Management (MRM) magazine's Research Roundup features some surveys surrounding Coronavirus and the restaurant industry, the best locations for chefs, online payment fraud and top trends for QSRs. COVID-19 Foot Traffic at QSRs. However, they believe it signals the absolute need to refine our thinking.
Graydon Herriott Jorge Gaviria’s company, Masienda, is making a name for itself among chefs and home cooks — and building a more sustainable supply chain in the process In How I Got My Job , folks from across the food and restaurant industry answer Eater’s questions about, well, how they got their job.
Whether you’re a bookkeeper, accountant, restaurant owner, or store-level manager, understanding the basics of accounting can pay dividends for your business. Healthy accounting procedures for restaurants can help you managefood and labor costs, understand your profits and losses, and make strategic decisions about expenses and investments.
Joe Nicholson was a manager and tech consultant at one of the busiest restaurants in Sacramento, CA—Tower Cafe. Now, as a copywriter at SpotOn, he helps restaurant owners and managers learn how to run a more profitable operation. That could simply be food sales , alcohol , and non-alcoholic beverages. Prime costs.
Managing a restaurant is not for the faint-hearted. This includes: Net Sales: The total revenue derived from your sale of food and beverages. However, as a rule, the primary costs you can expect in running your restaurant are usually related to food, labor, and rent. Most restaurants try to keep it at around 30% to be safe.
As restaurants around the country look towards reopening, Edward Lee and Lindsey Ofcacek, director of The LEE Initiative are committed to helping reset the supply chains for farmers and restaurant operators who are committed to sustainable food. ” US Foods Donates More Than $10 Million. U S Foods Holding Corp.
As 2021 begins, there are many restaurant management best practices that can be applied to strengthen your business, in the short and long term. Managecash flow by creating a cash flow forecast. Your total cash flow is your cash inflows (for restaurant. over a certain period of time.
They require specialized support that understands the intricacies of fluctuating revenues, high labor costs, and complex inventorymanagement. This volatility makes accurate forecasting and consistent cash flow management incredibly challenging.
While this could be a rewarding venture, opening a bar is not exactly the same as opening a food business. These start-up costs can range from the real estate payments you must make to the permits and licenses you need, the supplies you have to buy for your bar, the wages you need to pay your employees, and insurance.
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